While it is common for companies to talk about prioritizing employee health and company culture, little is said about supporting management and leadership development. As a result, employees are getting promoted to leadership positions without the right tools and skill sets. 

In this article, we’ll discuss the benefits of leadership development and why your company needs to invest in it.

What is Leadership Development?

Leadership development is the process of enhancing the leadership abilities of any employee in a company. It involves various programs and management strategies that shape employees into individuals who fit leadership positions. It is meant to refine the key proficiencies and develop the skills needed to perform in leadership roles better.

Why Is Leadership Development Important?

A leader’s ability to inspire others is essential to an organization’s success. Thus, leadership development is significant. Without effective, consistent leadership, the organization will suffer needlessly. 

In addition, leadership development helps with employee retention. Top talents will not want to stay in the same place unless there is growth in their careers. Helping them develop their leadership skills can be essential to your company’s retention strategy. 

Different Types of Leadership

There are two types of leadership: personal and positional leadership. Personal leadership is believed to be far more charismatic, good at strategy, and are always reliable. Positional leadership, on the other hand, is based on the concept that a leader is someone that people respect, look up to, and want to follow. It relies on the concept of power. 

In 2000, a psychologist named Daniel Coleman introduced six leadership styles that have since been widely recognized as essential frameworks of effective leadership. These are:

1. Coercive – one that demands immediate compliance.
2. Authoritative – a leadership style that mobilizes people toward a goal or vision.
3. Pacesetting – a style that expects excellence and self-direction.
4. Affiliative – focuses on building emotional bonds.
5. Democratic – is all about creating consensus.
6. Coaching –focuses on developing people for the company’s future.

The Leader Skills: What Are the Leadership Skills To Develop?

While anyone can be promoted to leadership, not everyone can thrive in that role. This position requires solid leadership skills like the following:

• Relationship building. Great leaders need the skills to forge a strong working relationship within the company to be able to build a cohesive and highly engaged team.
• Adaptability. Leaders need to have the skills to adapt to the hyper-competitive business landscape and current industry trends.
• Innovative and creative. Leaders must learn how to push boundaries – where outstanding ideas are presented and developed to become the foundation of success. 
• Motivating employees. A leader needs to know how to continuously keep employees motivated, engaged, and efficient.

What is a Leadership Development Program?

Leadership development programs help companies become more efficient. Although there are many types of leadership programs, their objective is always the same: to train better leaders. Leading a team requires specific competencies that are developed in these programs.

Why Create a Leadership Development Program? Benefits of a Leadership Development Program?

Companies invest in leadership development programs to develop high-potential employees for future leadership positions. This ensures that companies always have capable leaders at the helm – especially experienced ones who understand the company’s inner workings. 

Additionally, developing leaders in-house is easier than finding an external hire with the right skills. 

How To Create a Leadership Development Plan: Steps and Tips

As companies realize the importance of agility, leadership development for managers has become more important. Here are some tips for creating an effective leadership development plan:

• Set objectives based on your company’s priorities. Ensure your development plans are aligned with your leaders’ training needs and capabilities.
• Consult the leaders and potential leaders in the company. Ask them which skill sets and key competencies they are interested in developing.
• Audit your current programs and compare them with the agreed leadership qualities that your team wants to develop. 
• Follow the 70-20-10 rule. A leadership development program should be 70% on-the-job learning, 20% mentoring, and 10% training.

Why Should Employers Invest in Leadership Development?

The primary goal of leadership development is to change behavior. Identifying deficits and derailers is a crucial part of leadership. Leaders must be able to quickly learn new skills and do things differently. 

Leaders who have the skills to take the right actions can increase revenue, change culture, or lead transformations. Investing in your leaders will make your company more competitive, more able to attract and retain talent, and more likely to thrive in the long run.

How Kilpatrick Can Help Companies in Creating Effective Leadership Development Strategies?

If you need help in creating effective leadership development strategies for your organization, Kilpatrick Executive is here to help. Kilpatrick provides headhunting and HR services. Our top priority is to deliver results, so each client gets a solution that is tailored to their needs. If you’d like to discuss your vision with a member of our team, you can reach us at a convenient time for you.